Tesla(US:TSLA) Xinda Securities·2025-09-04 13:30Investment Rating - The industry investment rating is "Positive" [2] Core Insights - Tesla has elevated the strategic position of humanoid robots, with CEO Elon Musk stating that approximately 80% of the company's future value will come from the Optimus robot, highlighting its potential as a new growth engine for Tesla [2][3] - The technology for humanoid robots is rapidly evolving, moving from diverse solutions to more concentrated approaches, with significant breakthroughs expected in the capabilities of the third-generation robots [3] - By 2026, humanoid robots are anticipated to enter a phase of significant volume production, with the industry expected to see an increase in sales as supply chains mature and prices decrease [3] Summary by Sections Industry Overview - The report discusses Tesla's "Master Plan Part 4," emphasizing the importance of scaling FSD and Optimus robots as key future initiatives [2] Technology Development - The third-generation humanoid robots are expected to excel in coordination and complex task execution, with capabilities such as folding clothes and childcare [3] Market Outlook - The humanoid robot market is projected to begin a sales increase by the end of 2025, with a focus on design upgrades and data accumulation leading to a more concentrated supply chain [3] Investment Opportunities - Investment opportunities in the robot industry chain include companies such as UBTECH and Xinjian for the robots themselves, and various suppliers for actuators, sensors, reducers, universal joints, and tendons [4]